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10 Policy Decisions That Caused Market Turmoil
| Year | Event | What Happened | Max Drawdown (%) |
# of Months to Break Even |
Growth of $10,000 From Year in Column 1* |
|---|---|---|---|---|---|
| 1971 | Nixon Shock | President Nixon suspends the gold standard, implements wage/price controls |
-13.9 | 2 | $638,267 |
| 1987 | Black Monday | Uncoordinated monetary policy among global central banks |
-33.5 | 20 | $242,872 |
| 1994 | Bond-Market Crisis | Fed doubles the federal funds rate from 3% to 6% in one year |
-8.9 | 11 | $126,093 |
| 2000 | Dot-com Bubble | Fed raises interest rates to curb inflation |
-49.1 | 56 | $40,031 |
| 2008 | Global Financial Crisis | Regulatory failures and the Fed’s reluctance to lower interest rates |
-53.9 | 47 | $40,056 |
| 2011 | Debt-Ceiling Crisis | Political gridlock in the US Congress over raising the debt ceiling |
-19.4 | 5 | $46,767 |
| 2013 | Taper Tantrum | Fed announces tapering of the quantitative easing program |
-5.8 | 1 | $41,240 |
| 2018 | China Trade War | President Trump imposes tariffs on Chinese goods |
-19.8 | 4 | $21,999 |
| 2020 | COVID-19 Pandemic | Delayed responses and mixed messaging from government agencies |
-33.9 | 5 | $18,205 |
| 2025 | Escalating Trade War | President Trump intensifies tariffs and trade war |
??? | ??? | ??? |
Data shown is for the S&P 500 Price Index as of 12/31/24. Past performance does not guarantee future results. Indices are unmanaged and not available for direct investment. * Beginning 1/1 of the year in column 1 through 12/31/24. Maximum drawdown is the largest percentage drop from a peak to a trough in the value of an investment portfolio. Data Sources: Morningstar, Ned Davis Research, and Hartford Funds.
Policy Uncertainty Hasn’t Hindered Market Growth (1971-2024)
Growth of $10,000 of S&P 500 Price Index Returns
As of 12/31/24. Past performance does not guarantee future results. Data Sources: Morningstar, Ned Davis Research, and Hartford Funds.
Talk to your financial professional to learn more about staying confident in the face of volatility.
S&P 500 Price Index is a market capitalization-weighted price index composed of 500 widely held common stocks and does not include the reinvestment of dividend payments.
Investing involves risk, including the possible loss of principal.
CCWP162 4365514